HDFC Bank Chairman Rajiv Kumar vows zero tolerance for unethical practices
Chairman Rajiv Kumar told shareholders the bank will follow “zero tolerance” for deviations from its ethical and policy regime, citing strong controls. Part-time chairman Chakraborty resigned in March over practices not aligning with his ethics. The board later commissioned external law firms to review his concerns, after internal vigilance flagged Rs 45 crore interest payments allegedly camouflaged as marketing, and in July warned and penalized three senior employees Rs 1 lakh each.